RNS Number : 5551T
Bilby PLC
15 November 2019
 

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) (TOGETHER, THE "ANNOUNCEMENT") AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

15 November 2019

Bilby Plc

("Bilby" or the "Company")

Result of Fundraise

 

Bilby plc (AIM: BILB) ("Bilby" or the "Company"), a leading gas heating, electrical and building services provider, is pleased to announce the completion of the fundraise announced yesterday. The Company has conditionally raised an aggregate sum of approximately £2.0 million by way of a placing (the "Placing") and a subscription (the "Subscription") of 18,181,818 new Ordinary Shares in the Company (the "New Shares"), at a price of 11 pence per share (the "Issue Price"), (the Placing and the Subscription, together the "Fundraise").

 

The New Shares were offered by way of an accelerated bookbuild. Canaccord Genuity Limited ("Canaccord Genuity") acted as Nominated Adviser, sole bookrunner and sole broker in relation to the Placing.

 

Application has been made for Admission of the New Shares and it is expected that Admission will become effective and that dealings in the New Shares will commence at 8.00 a.m. on 20 November 2019. The New Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company.

 

The total number of New Shares to be issued represents approximately 44.85 per cent. of the Company's existing share capital and approximately 30.96 per cent. of the Enlarged Share Capital. The Issue Price represents a discount of approximately 52 per cent. to the closing mid-price of 23 pence on 14 November 2019, being the last business day immediately prior to the announcement of the Fundraise.

 

 

 

Directors Participation

 

Of the total Fundraise, the Company announces that certain of the Directors (and their associates) as set out below ("Subscribing Directors") have agreed to subscribe for an aggregate of 2,864,056 new Ordinary Shares at the Issue Price to raise approximately £0.315 million as summarised below:

 

 

Directors

Existing number of Ordinary Shares*

Number of New Shares*

Total number of Ordinary Shares following the Subscription*

Percentage of Enlarged Share Capital

Sangita Shah

53,966

454,545

508,511

0.87

David Bullen

0

1,136,785

1,136,785

1.94

Clive Lovett

0

454,545

454,545

 0.77

Lee Venables

0

454,545

454,545

 0.77

Chris Webster

705,482

363,636

1,069,118

 1.82

Total

759,448

2,864,056

3,623,504

6.17

 

* Total number of shares held and to be held by the Directors and their Persons Closely Associated ("PCAs").

 

 

Total Voting Rights

 

Following Admission on 20 November 2019, the issued share capital of the Company will consist of 58,721,845 Ordinary Shares, with one voting right each. The Company does not hold any shares in treasury.

 

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

David Bullen, Chief Executive Officer, said: "We would like to thank shareholders for their support. The funds raised will provide additional working capital to the Group and together with temporary amendments to the financial covenants in the existing debt facilities will provide us with additional time and flexibility to agree new debt facilities with rebased financial covenants, a process which may involve a further equity fundraising. The Board remains confident in the Group's prospects."

 

 

For further information, please contact:

Bilby plc:

Tel:  +44 (0)20 7796 4133

Sangita Shah, Non-Executive Chair 

(via Hudson Sandler)

David Bullen, Chief Executive Officer




Canaccord Genuity (Nominated Adviser and Joint Broker):

Tel: +44 (0)20 7523 8000

Bobbie Hilliam


Andrew Potts


Georgina McCooke




Sales:


Jonathan Barr




Stanford Capital Partners (Joint Broker):


John Howes

Tel: +44 (0) 203 815 8882

Bob Pountney

Tel: +44 (0) 203 815 8883



Hudson Sandler (PR advisers)

Tel: +44 (0) 20 7796 4133

Charlie Jack


Bertie Berger




 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The person responsible for arranging the release of this information is David Bullen, Chief Executive Officer of the Company.

Terms used but not defined in this announcement shall have the meanings given to such terms in the Announcement made earlier today.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Sangita Shah and PCAs

2 

Reason for the notification

a)

Position/status

Non-Executive Chairman

b)
 

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 

a)

Name

Bilby Plc

b)
 

LEI

213800JDWVCVYWS87928

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 10 pence each



Identification code

ISIN: GB00BV9GHQ09



b)

Nature of the transaction

Purchase of 454,545 Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

11p

454,545

d)

 

Aggregated information




- Aggregated volume

- Price

- Total

 

454,545

11p

£50,000

e)

Date of the transaction

14 November 2019

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

Details of the person discharging managerial responsibilities / person closely associated
 

a) 

Name

Clive Lovett

2

Reason for the notification
 

a)

Position/status

Group Finance Director

b)
 

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)
 

Name

Bilby Plc

b)
 

LEI

213800JDWVCVYWS87928

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 10 pence each



Identification code

ISIN: GB00BV9GHQ09



b)

 

Nature of the transaction

Purchase of 454,545 Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

11p

454,545





d)

 

Aggregated information




- Aggregated volume

- Price

- Total

 

454,545

11p

£50,000

e)

Date of the transaction
 

14 November 2019

f)
 

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

1

Details of the person discharging managerial responsibilities / person closely associated
 

a) 

Name

David Bullen

2

Reason for the notification
 

a)

Position/status

Chief Executive Officer

b)
 

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)
 

Name

Bilby Plc

b)
 

LEI

213800JDWVCVYWS87928

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 10 pence each



Identification code

ISIN: GB00BV9GHQ09



b)

 

Nature of the transaction

Purchase of 1,136,783 Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

11p

1,136,785





d)

 

Aggregated information




- Aggregated volume

- Price

- Total

 

1,136,785

11p

£125,046

e)

Date of the transaction
 

14 November 2019

f)
 

Place of the transaction

London Stock Exchange, AIM Market (XLON)



 

1

Details of the person discharging managerial responsibilities / person closely associated
 

a) 

Name

Lee Venables and PCAs

2

Reason for the notification
 

a)

Position/status

Chief Operating Officer

b)
 

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)
 

Name

Bilby Plc

b)
 

LEI

213800JDWVCVYWS87928

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 10 pence each



Identification code

ISIN: GB00BV9GHQ09



b)

 

Nature of the transaction

Purchase of 454,545 Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

11p

454,545





d)

 

Aggregated information




- Aggregated volume

- Price

- Total

 

454,545

11p

£50,000

e)

Date of the transaction
 

14 November 2019

f)
 

Place of the transaction

London Stock Exchange, AIM Market (XLON)



 

1

Details of the person discharging managerial responsibilities / person closely associated
 

a) 

Name

Chris Webster and PCAs

2

Reason for the notification
 

a)

Position/status

Executive Director

b)
 

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)
 

Name

Bilby Plc

b)
 

LEI

213800JDWVCVYWS87928

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 10 pence each



Identification code

ISIN: GB00BV9GHQ09



b)

 

Nature of the transaction

Purchase of 363,636 Ordinary Shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

11p

363,636





d)

 

Aggregated information




- Aggregated volume

- Price

- Total

 

363,636

11p

£40,000

e)

Date of the transaction
 

14 November 2019

f)
 

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 


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